The US Health and Education Systems Have the Same Problem

There are two parts of the US economy that have spiraling out of control costs–the health and higher education systems. I propose that these systems experience runaway costs for the same fundamental reason, that they are “high demand markets”. High demand markets differ from other kinds of markets in an important way, and once we understand that health and education are markets of this variety, it becomes much easier to devise and understand the potential efficacy of policy solutions in both areas.

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